The Ikeja High Court in Lagos has ordered the remand of Godwin Emefiele, the former governor of the Central Bank of Nigeria, CBN, in the custody of the Economic and Financial Crimes Commission, EFCC.
The court also directed that Emefiele’s co-defendant, Henry Omoile, be held at Kirikiri Prison, both awaiting a ruling on their bail set for Thursday, April 11.
Presided over by Justice Rahman Oshodi, the court’s decision followed the hearing of bail applications from the defendants’ counsel, Lebi Lawal.
Lawal advocated for Emefiele’s release on self-recognizance or under liberal bail conditions, considering his status and the nature of the charges.
Emefiele was arraigned before the court to face charges related to the alleged misuse of his position and the allocation of billions of dollars.
According to the charge sheet, dated April 3, the EFCC) accused Emefiele of abusing his authority in Lagos between 2022 and 2023.
The commission alleged that Emefiele “directed the allocation of foreign exchange in the aggregate sum of $2.1billion without bids, which act is prejudicial to the rights of Nigerians.
The former CBN Governor pleaded not guilty to the charges